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Facebook Posts Record-Breaking Profit — Despite New Privacy Kerfuffle

When it comes to Facebook, the highs and lows just keep coming. On the one hand, the social media giant posted record profits for the holiday quarter in 2018. On the other, it proceeded to get itself into another privacy scandal, angering another technology giant: Apple Inc. First thing’s first: Facebook just posted record profit for the fourth quarter ending December 2018, because of $6.88 billion in net income, a 61 percent growth compared to last year. Its average revenue per user clocked in at $7.37, which dwarfed the forecasted $7.11. That ARPU represented 21 percent over the previous quarter and 19 percent over the same period last year. Earnings, at $2.38 per share, jumped 65 percent year-over-year. Plateauing user growth in North America and Europe was a major concern for the company in 2018. While those worries haven’t completely gone away — particularly as scandals keep erupting around the tech company — the matter does not seem as dire as it appeared last year, at least for now. Daily and monthly active users hit expectations, at 1.52 billion and 2.32 billion users, respectively, meeting the benchmark for growth. Both represent a 1.8 percent gain over last quarter, and 8.6 percent increase over the same period in

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